Entrepreneur and entrepreneurship
- 2. Entrepreneur work comes form FRENCH origin meaning “ to undertake” Entrepreneur take initiation for profits Entrepreneur
- 3. Entrepreneur An entrepreneur is a person who searches for changes and responds to it by starting a enterprise. Who setup a business or a set of business for taking financial risk in the hope of profits. An entrepreneur introduce new idea, carries new activities, co-ordinates the factor of production and describes now business should run. Entrepreneur (Person) Entrepreneurship (Process) Enterprise (Outcome)
- 4. DIFFERENCE BETWEEN ENTERPRENEUR AND MANAGER S.N . ENTREPRENEUR MANAGER 1 Set up a new venture Only runs an existing unit 2 Entrepreneur is another name of innovation who work to find new method & products etc. An employee of business organization. He cannot operate independently 3 He takes calculated risks and he is responsible for failure and financial He takes less risks as compare to entrepreneur 4 He starts & run his venture independently. He self employed & he is own BOSS He cannot be an innovator. He deals with the day to day affairs of going concern. 5 He is motivated by profits and he may even suffer loss. He is motivated by rewards or incentive. His salary cannot be negative.
- 5. Entrepreneurship The activities one by an entrepreneur for setting up a business or set of business, taking on financial calculated risk in the hope of profits ACTIVITY PERFORM BY ENTERPRENEUR CREATIVITY THOUGHT PROCESS ENTERPRENEURSHIP Entrepreneur give some idea or transformational information that boost the business to the next level
- 6. WHY ENTERPRENEURSHIP..?/ Rewards of Entrepreneurship Being your own boss Doing something you enjoy Being creative Setting your own schedule Having job security Making more money Being recognized in the community Work satisfaction
- 7. Characteristic of an entrepreneur ENTREPRENEUR Self starter Determination Creative Self confidence Discipline Passion Action oriented leadership Endless curiosity Risk taking Winning performance Goal oriented Open minded competitiveVisionary
- 8. Key point that only important for an entrepreneur CREATIVTY INNOVATION Ability to make something new Moving from known to Unknown It should be based on future disruptive projection State of mind that come change 100%
- 9. Life line of the nation Provide innovation Growth of economy Increase profits Employment opportunity IMPORTANCE OF ENTREPRENEURSHIP
- 10. Entrepreneur Developed their own business and earn high profit •No fixed money •No earning limit Serviceman Work with in an organization •Fixed money •Earning limit Increase Profits
- 11. REASON BEHIND SUCCESS OF ANYBUSINESS • Customer need is food for your growth factory • Create pipeline of promising idea 1. They focus on customer need 2. Not on technology, manpower, process, facility 1. Team for encouraging to ask/discussion • Pilot experimentation & validation 1. Pilot scale-up / small proto type test 2. Experiment/validate/reaction/ feed back • Commercialization launch & Ramp up 1. Implement on large scale 2. Create network/ distributor/partner/ dealers 3. Create supply chain AGILITY STABILITY SUCCESS Implement of concept of 5P Price/People/Product/ Process/Promotional • Improvement cycle
- 12. Founder Jeff bezos library online submit 1995 First Launch E.Com platform for selling book online Founder (2007) Sachin Bansal/ Binny Bansal Founder (2009) Garrett Camp Founder (2010) Rohit Bansal / Kunal Bahl Out of box thinking Traditional work + new technology = innovation Generate employment observed day to day problem of people Simply change the lifestyle